Indian IT shares rally after quarterly results from Tech Mahindra and Wipro
+1 new source since this summary was written
Indian technology shares rose on Friday, October 16, after Tech Mahindra and Wipro released September-quarter results. Tech Mahindra climbed as much as 6.93% and Wipro gained 4.54%, while Tech Mahindra reported 32.7% year-over-year consolidated net profit growth. Wipro's rupee revenue increased 0.8% quarter-over-quarter, although its constant-currency revenue outlook for the December quarter ranges from a 1.5% sequential decline to a 0.5% sequential increase.
Why it matters
The results triggered a positive repricing across Indian IT stocks, including Infosys, but Wipro's weaker deal bookings and cautious constant-currency guidance leave near-term execution as a market focus. The proposed bonus issue would increase Tech Mahindra's share count without changing the company's underlying equity value.
Key facts
- 1Tech Mahindra's consolidated net profit grew 32.7% year over year to ₹1,585.6 crore in the September quarter of FY27. fortuneindia.com
- 2Tech Mahindra's board recommended a 1:1 bonus share issue, with the record date still to be announced. fortuneindia.com
- 3Wipro's rupee revenue rose 0.8% quarter over quarter to ₹24,667 crore, while its dollar revenue fell to $2,611.5 million from $2,614.5 million. fortuneindia.com
- 4Wipro guided for constant-currency revenue growth ranging from a 1.5% sequential decline to a 0.5% sequential increase in the December quarter. fortuneindia.com
- 5Wipro's operating margin increased to 16.5% from 16% in the June quarter. fortuneindia.com
- 6The Nifty IT index gained 10.16% across the five trading sessions from October 12 to October 16. zeebiz.com
Open questions
- The materials report different same-day percentage moves for Tech Mahindra and Wipro, reflecting different intraday snapshots; a single definitive closing move is not established.
Summary written by AlphAI AI Desk from 4 of 4 sources. Not investment advice. Figures are as stated by the linked sources.